It’s a church tradition. Members of the church pledge their donations to the church in exchange for a loan that is repaid in monthly installments or one lump sum at a later date. Church loans are used to fund church projects and operations, including new buildings, renovations, and general operating expenses.

But how much do you have to finance? And why is it important? In this article, we’ll explore the loan rates so you can make an informed decision about whether or not borrowing from your church makes sense for your congregation.

What are these loan rates?

This loan rates are the monthly rate church members pay to borrow money from their church. There are two primary types of loans: auto-pledges and pledges (also called capital campaigns). Auto-pledge loans provide congregants with an interest-free, revolving line of credit for 12 months or longer.

Once you repay your first installment on the automatic payment plan, it automatically rolls over into a second month’s installment which is then added to your balance due at the end of that month.

Pledges (or capital campaigns) allow donors to make one-time payments toward specific project costs like new building construction or renovations instead of making ongoing contributions through weekly Sunday offerings.

What kind do I have? So now that you know what these loans are, you should ask yourself what kind of loan do I have.

A church only has one type of this loan but can offer different rates depending on the situation (i.e., if it offers auto-pledge loans vs campaign loans). Auto-pledge loans provide congregants with an interest-free, revolving line of credit for 12 months or longer.

What else should I know?

These loans come in a variety of types, including church construction loans and church renovation loans.

These Loans: How much to finance and why Rate: The rate is typically determined by determining how large your financing needs are and whether will be used for short-term loans or church long-term loans.

For example, if you need $100k for your church loan rates project and you want to finance that amount over five years then the rate will be determined by how much of a percentage (i.e., 20%) they are willing to lend on with their loan rates depending on credit score/history, etc.

If approved, borrowers typically receive this loan rates within 24 hours after submitting an application online at no cost.

For more on church loan rates, check online.

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